Continued growth in manufacturing

Production in manufacturing increased by 2.5 per cent from June to August 2012 compared with the previous three-month period, Statistics Norway reports.

Industries like machinery and equipment, and ships, boats and oil platforms had a continued production growth in this period.

This can be related to a strong increase in new orders for these industries, due to a very high level of investments within the Norwegian petroleum sector.

The activity within machinery and equipment, and ships, boats and oil platforms is now at a record high level, with a volume growth of 80 and 77 per cent respectively since 2005.

Furthermore, production in food products also went up in this period, due to a solid increase in dairy products.

Production of basic chemicals increased from June to August 2012 after extensive revision stop at several installations in the preceding months.

On the other hand, Statistics Norway reports,  industries such as basic metals had a downturn in production from June to August 2012 compared with the previous three-month period as a result of a weaker international market and lower prices.

There was a 7.6 per cent increase in Norwegian manufacturing output from July 2011 to July 2012, according to working-day adjusted figures. Industrial production in the Euro area decreased by 2.3 per cent in the same period, according to figures published by Eurostat.

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